Eastern & Oriental may extend uptrend, says RHB Retail Research

• “The momentum should lift the counter towards next resistance pegged at RM1 and followed by RM1.13.”

KUALA LUMPUR (Feb 26): RHB Retail Research said Eastern & Oriental Bhd may extend its uptrend after undergoing a bullish breakout.

In a trading stocks note on Monday, the research house said that the counter broke past the 93 sen resistance on the heel of strong volume — indicating bullish momentum is in play now.

“The momentum should lift the counter towards next resistance pegged at RM1 and followed by RM1.13.

“On the downside, support has established the 83 sen level.

“Breaching the support would open [the] door for correction,” it said.

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